US asset management firm believes strong performance in Turkish local bonds can boost lira positions

US asset management firm believes strong performance in Turkish local bonds can boost lira positions

Inflation hit peak, and now time to fall, entire 5-year Turkish lira bond curve to impact, says Vanguard

By Nuran Erkul

LONDON (AA) – The US-based asset management firm saw a period of strong performance in Turkish local bonds that can supplement Turkish lira positions, Nick Eisinger, co-chairman of Vanguard, said.

Vanguard announced in January that it would reinvest in Turkish lira-denominated government bonds.

"Inflation hit a peak and now should start to fall. This will affect the entire lira bond curve, especially the five-year maturity," Eisinger said.

Moreover, a Deutsche Bank report released on Monday stated that the Turkish lira is by far the best-performing global currency.

The report stressed that this success is just the beginning, and local bonds continue to provide extremely attractive entry levels.

Furthermore, a Swiss asset management firm announced last week that it has begun purchasing long-term lira bonds as investor demand for Turkish bonds and the lira has increased.


*Writing by Sahika Olgun from Istanbul


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